The affordable housing debate in Nashville was in the spotlight again during a busy Metro Council meeting.
Council members would soon vote on a bill designed to provide more affordable housing options throughout Davidson County.
“This is one large piece to the puzzle,” said Burkley Allen, Metro Council Member for District 18 and the sponsor of the bill. “I think it has potential to create 200 units of housing to teachers, firefighters, artists and the people who make Nashville run.”
The proposal would require new residential development to include a small portion of units that would be affordable to people who earn 60 to 80% of the median household income in the county. Allen said Metro would offer grants to offset the costs of developers to make the housing cheaper than market value. She added the requirement would only be applied when a developer chooses to apply for new development rights.
The Beacon Center of Tennessee indicated it would sue Metro if the bill is approved.
“We have deep concerns about its legality and constitutionality,” said Braden Boucek, Director of Litigation at the Beacon Center of Tennessee. “Furthermore, we also think it exacerbates the problem it is intended to address.
Boucek said the bill forces private individuals to sell their own investments at a price that is determined by Metro, and may force them to lose money on the deal. He said as long as the demand for housing is high in Nashville, the best solution is to increase the supply of options.
“What the city needs to do is approve more development,” said Boucek. “That is how you drive down the cost of housing.”
Allen said Metro attorneys have signed off on the ordinance.
The bill was set to come up for a third and final vote Tuesday night.
Metro Council will also discuss a bill that would reduce the penalty for people who knowingly possess a half-ounce of marijuana or less. Council members wil take up another ordinance that would impact residents’ ability to rent homes through services like AirBnb.com and VRBO.com
The meeting was scheduled for 6:30 p.m. at the Metro Courthouse.
